Franklin Templeton Prepping Blockchain Fund

Filing from the $1.5 trillion asset manager follows crypto-focused investments, job postings


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key takeaways

  • Venture capital fund, which requires a minimum investment of $1 million, has already raised half of its targeted amount
  • The fund group invested in Galaxy Digital’s fund of funds and participated in a $15 million Series A funding round for Amberdata

Franklin Templeton has so far raised $10 million for a blockchain fund, according to a regulatory filing, and the firm is looking to raise an additional $10 million before launching. 

The offering will be a venture capital fund that requires a minimum investment of $1 million, the September 14 document indicates.

A spokesperson did not immediately respond to Blockworks’ request for comment. 

It’s the San Mateo, California-based fund group’s latest step into the crypto space. The firm, which managed $1.56 trillion in assets as of the end of July, posted job listings earlier this month to hire a cryptocurrency-focused trader and research analyst. 

The trader will be tasked with executing trades for strategies using bitcoin and ether, as well developing quantitative trading strategies, according to the job post. The research analyst will keep portfolio managers and senior executives informed of various protocol regulatory, staking and business opportunities, a separate listing stated, as well as help develop and manage new crypto products. 

The firm is still accepting applications for the jobs on its website.

Galaxy Digital previously revealed that Franklin Templeton is an investor in Galaxy’s first venture-focused multi-manager fund of funds, which is focused on providing institutional investors access to pre-vetted managers investing across digital assets.

The mutual fund giant also participated in a $15 million Series A funding round for digital asset data company Amberdata.

Franklin Templeton is looking to enter the crypto fund space as more — much larger — offerings have popped up in recent weeks. 

Most recently, venture capital firm Jump Capital launched a crypto-focused fund over 17 times larger, with $350 million total capital commitment — its largest to date. 

Pantera Capital is also launching a new blockchain fund, and it is already more than halfway to its goal of a whopping $600 million. Meanwhile, Private equity firm 10T Holdings announced last week that it has so far raised $750 million for its first two growth equity funds focused on digital asset companies.
As of mid-June, venture capital funds in 2021 had put an all-time high of $17 billion into crypto companies and projects, according to data provider PitchBook.

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